[144 Pages Report] The risk analytics market size is projected to grow from USD 17.60 Billion in 2017 to USD 35.92 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.3%. The base year considered for this report is 2016 and the forecast period is 20172022.

The main objective of this report is to define, describe, and forecast the global risk analytics market on the basis of components, risk types, deployment models, verticals, and regions. The report contains an analysis of major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges). It aims to strategically analyze micro-markets with respect to individual growth trends, future prospects, and their contribution to the market. The report attempts to forecast the market size for 5 major regions, namely, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. It contains key vendor profiles and comprehensively analyzes their core competencies. The report also tracks and analyzes competitive developments including partnerships, collaborations, acquisitions, new product developments, and R&D activities in the risk analytics market.

The research methodology used to estimate and forecast the risk analytics market begins with data collection through secondary research on key vendors. The sources referred for secondary research include D&B Hoovers, Bloomberg Businessweek, and Factiva. The vendor offerings are taken into consideration in order to determine the market segmentation. The bottom-up procedure was employed to arrive at the overall market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key personnel, such as chief officers (CMOs and CEOs), vice presidents, directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of primary profiles is depicted in the below figure:

Study answers several questions for the stakeholders, primarily which market segments to focus in the next 25 years for prioritizing the efforts and investments.

Scope of the Report:

The research report categorizes the risk analytics market to forecast the revenues and analyzes the trends in each of the following subsegments:

By Component:

Software

Extract, Transform and Load Tools

Risk Calculation Engines

Scorecard and Visualization Tools

Dashboard Analytics and Risk Reporting Tools

GRC Software

Others

Services

By Risk Type:

Strategic Risk

Operational Risk

Financial Risk

Others

By Deployment Model:

On-Premises

On-Demand

By Vertical:

Banking and Financial services

Insurance

Manufacturing

Transportation and Logistics

Retail and Consumer goods

IT and Telecommunication

Government and Defense

Healthcare and Life sciences

Energy and utilities

Other

By Region:

North America

Europe

Middle East and Africa (MEA)

Asia Pacific (APAC)

Latin America

Available Customizations:

With the given market data, MarketsandMarkets offers customizations as per the companys specific requirements. The following customization options are available for the report:

Product Analysis:

Product matrix gives a detailed comparison of product portfolio for each company.

Geographic Analysis:

Further breakdown of the North America Risk Analytics market

Further breakdown of the Europe market

Further breakdown of the APAC market

Further breakdown of the MEA market

Further breakdown of the Latin America market

Company Information:

Detailed profiling and analysis of additional market players

The risk analytics market is projected to grow from USD 17.60 Billion in 2017 to USD 35.92 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 15.3%. Advent of dynamic technologies and an increasing need for industry-specific solutions are some of the key drivers of the market.

The report provides detailed insights into the global market which is segmented on the basis of components, risk types, deployment models, verticals, and regions. In the risk analytics market by components, the financial risk in the risk type segment is expected to hold the largest market share during the forecast period. Banking and financial services institutions, and insurance companies are under a constant threat of capital losses due to bad loans and non-performing assets (NPAs). Hence, they are expected to significantly deploy risk analytics software and services to better manage the risks and growing frauds.

The on-premises deployment model has a high adoption rate as compared with the on-demand deployment model. The on-premises deployment model provides confidentiality and privacy parameters to the organizational data; hence, most of the organizations are adopting the on-premises deployment model.

The insurance industry is expected to have the largest market size during the forecast period. Risk analytics solutions and services also help insurance providers to better utilize the available data across the entire customer value chain and improvise returns across their investment portfolios. Additionally, fraud analytics under risk analytics is used to recognize insurance fraud before the claim settlement, identify the right claim to focus on, reduce the time consumed in the process, and to identify suspicious participants.

The report covers all major aspects of the risk analytics market and provides an in-depth analysis across the regions of North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. The market in North America is expected to hold the largest market share, whereas the APAC region is projected to provide significant opportunities in this market and is expected to grow at the highest CAGR during the forecast period.

Risk analytics solutions are aggressively adopted by organizations across the globe to minimize their losses incurred due the risks in their business operations and to gain a competitive edge in the market. Companies such as IBM Corporation, Oracle Corporation, and SAS Institute offer comprehensive risk analytics solutions and services to cater to various needs of their customers. The companies are increasingly deploying both organic as well as inorganic strategies to drive their growth in the burgeoning risk analytics market. Moreover, as North America continues to grow with a strong hold on banking, insurance, healthcare, and manufacturing industry verticals, the enterprises would be looking toward adopting an astute risk management program that would help them to manage the their risks.

High cost of investment is a major restraining factor for the growth of the risk analytics market. Low acceptance due to hierarchical conflicts and lack of appropriate expertise are the hurdles in the adoption of risk analytics software and services.

Most of the vendors have adopted acquisitions, agreements, collaborations and partnerships, new product launches, product upgradations, and expansions as key strategies to expand their client base and enhance customer experience. For instance, in April 2017, 3E Company, a Verisk Analytics business segment, announced a strategic alliance with SAI Global, a risk management company. The alliance would help the customers of both the companies to have access to the data that is needed to enhance EH&S performance, and minimize risk and support regulatory compliances. The strategy of new product launch has also been adopted by the top players to enhance their presence and dominance in this market. For example, in November 2016, SAS launched the SAS Expected Credit Loss solution that collaborates between finance and risk teams to minimize the cost of compliance. The solution helps banks to be compliant with the IFRS 9 accounting standards.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst